Key takeaways A reverse mortgage allows homeowners who are 55 and older to tap their home’s equity for tax-free payments. The most common type of reverse mortgage is a Home Equity Conversion Mortgage (HECM), which is available to borrowers 62 and older. Reverse mortgages can be complicated; ask a financial…
In a world that operates 24/7, we want to simplify our lives as much as possible. One way to do that is to use automated payments for credit cards, gym memberships, streaming services, rent and mortgage, subscriptions and more. However, the more automated payments we create, the harder it can…
Key takeaways Voluntary life insurance is an optional group life insurance policy offered by select employers, usually at a discounted rate. It may be a beneficial option for people with chronic health conditions or those who have been rejected by private life insurance companies. Most employers offer voluntary term life…
MartinPrescott/Getty Images; Illustration by Austin Courregé/Bankrate Key takeaways Making extra payments or picking up a side job are effective ways to pay off a personal loan faster. Tightening your budget or refinancing your loan can also help with early payoff. Check for any penalties or fees for paying off a…
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TomoCredit, a five-year-old San Francisco startup that claims it boosts consumers’ credit scores, is facing a growing number of problems,…
This founder built his brand on a simple idea: Forget about changing the world. Get rich doing mundane and even…
The 2024 presidential election has ended, and Donald Trump is poised to retake the White House, with big implications for…
Voters in Washington State have decided to keep the state’s first-in-the-nation public long term care insurance program. On Tuesday, they…
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Retirement plans for the self-employed range from the good to the outrageously good, and can allow you to save much more than you ever could with a traditional employer plan. A well-chosen retirement plan can allow entrepreneurs and the self-employed to bankroll a bright retirement.…
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Key takeaways A lien serves as an official notice that you owe a creditor for unpaid property. If you do not pay, the…
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With interest rates easing and inflation cooling, small businesses are getting a much-needed break. A change to the Small Business Administration’s (SBA) refinancing…
Credit Cards
Key takeaways Actively using a credit card responsibly can help improve your credit score over time. Using your credit card like a debit…
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Key takeaways Survey platforms work best as supplemental income, typically earning $100-500 monthly with strategic use. Legitimate platforms offer transparent payment terms and realistic earnings ($0.50-$3 per survey) through PayPal or gift cards. Specialized surveys targeting specific professions or demographics often pay significantly more than general consumer surveys. Side hustles…
The number one cause of car crashes in Illinois is speeding, according to the Illinois Department of Transportation. In 2023, over 1,200 people were killed in car crashes in the state, and 55 percent of those fatalities were a result of speeding. Not only is speeding dangerous, but it may…
Key takeaways The Chase Ultimate Rewards program is a premier points program for among rewards credit cards. Through Chase’s travel portal, certain cardholders can score heightened points value toward travel, whether it be by redeeming for travel with specific Chase cards or transferring to high-value airline and hotel partners.…
PM Images/ Getty Images; Illustration by Austin Courregé/Bankrate Key takeaways Loans for this amount are offered by banks, credit unions and online lenders. The latter often features rapid funding times. An excellent credit score will typically qualify you for the lowest rate on a loan of this size. Most importantly,…
MoMo Productions/ Getty Images Key takeaways Both banking tools and third-party apps serve different purposes in financial tracking. Banking tools excel at daily monitoring, while third-party apps offer comprehensive analysis and planning features. Combining bank-provided tools with select third-party apps often provides the most complete financial tracking solution. Regular monitoring…
The holiday season is a time for joy, celebration, and gift-giving. However, it can also bring about financial stress and anxiety, especially if you’re worried about managing your credit card payments amidst the flurry of holiday expenses. To help you navigate holiday spending without missing a beat on your financial…
Cavan Images / Nenad Stojkovic / Getty Images There are many types of annuities out there. Critics might say too many types. But if you’re in the market for an annuity, it’s important to understand how they’re described and classified so you know exactly what you’re signing up for and…
Key takeaways Factor rates are a decimal that you use to multiply the entire loan by to get the total loan cost. Factor rates do not incorporate loan fees into its rate, as APRs do, making it difficult to evaluate the total cost of the loan. Factor rate loans tend…
As the clock continues to tick down, Congressional leaders have finally released the text of a proposed funding measure to keep the lights on. As expected, it’s a short-term bill intended to fund the government through March 14, 2025. Without any action by Friday, December 20, 2024, funding will run…
Key takeaways American AAdvantage miles can be worth more or less depending on when you book, the timing of your flight and other factors. You can use Loyalty Points to boost your AAdvantage status. Miles can be earned from booking flights and other travel, as well as through shopping, dining…
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